As your real estate business grows, you may have had the thought of starting a team. Today I’m going to share with you the absolute best time to start your real estate team.
You’ve probably heard the advice of growing your real estate sales business as much as you can on your own. Then, when you’re maxed out, you should hire a buyer’s agent, a listing specialist, and more. I want to share an entirely different perspective with you today. I believe the best time to start a team is the day you get your real estate license. Here’s why.
There’s a concept in business that’s especially relevant in the real estate industry: You should always move toward the highest and best use of your time. You should focus on dollar-producing activities, which, in our business, are lead generation and lead conversion.
Fumbling with papers, doing administrative work, and uploading documents are not dollar-producing activities. Those tasks can be done by administrative specialists, which you can hire on a per-transaction basis. You can hire them for a few hundred dollars per transaction and handle the work that isn’t your strong point anyway. Any time you’re directly involved with administrative work, it takes you away from building your business. From day one, make that commitment to have someone take care of those activities for you.
If you make this commitment, you’ll get to the second phase of your career where you’re ready to hire a licensed agent. I recommend that your first hire here is a buyer’s agent.
When should that happen? Only when you are completely effective and efficient in your business. That means you’re working from proven checklists that identify all the activities necessary to get a buyer or seller through the process. As you grow in this business, you will weed out the inefficiencies and be able to bring on a buyer specialist to teach them your methods. This will ensure that they are effective and efficient from day one.
Of course, there’s much more to building a successful business, but I don’t have time for all of that in this blog. However, I do have time for you. I coach agents on how to grow an abundant individual sales business and take it to the next level with a team. I’d be happy to help you out with a no-cost, no-obligation conversation, which you can schedule by clicking on the link below.
If you have any questions for me in the meantime, don’t hesitate to reach out. I look forward to hearing from you soon.